Introduction

Abstract

This volume is concerned with the nature of the Eurodollar market. The broader Eurocurrency market represents the most astonishing phenomenon in the modern world of finance because Eurocurrencies consist of bank deposits located in jurisdictions outside that of the currency of denomination. Economists, as well as public policymakers, share the view that banking systems, due to potential bank failures and the monetary role that banks play, deserve special regulation and the intervention of the monetary authorities.